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    Bajaj Allianz Elite Assure A Non-linked Participating Endowment Life Insurance Plan

    • Attractive return on investment and life cover
    • Guaranteed loyalty additions
    • Multiple rider benefits
    • Option of regular or limited payment terms
    An investment plan with high returns called Bajaj Allianz Life Elite Assure
    Download Brochure 9 pages - 499 KB
    Download Policy Document 9 pages - 499 KB
    • Overview
    • Key Advantage
    • How this works
    • Eligibility
    • Downloads
    • Sample Illustration
    • Policy Benefits
    birthday_image

    Investment Plan With Attractive Returns - Bajaj Allianz Elite Assure

    Sometimes attaining a perfect balance may seem near impossible. However, when it comes to protecting your loved ones along with having a strong investment proposition, Bajaj Allianz Life Insurance has got the balance just right. It brings to you a non-linked endowment insurance plan that offers these benefits in a single product, making it a thorough proposition for you.

    Bajaj Allianz Elite Assure provides a life cover along with attractive return on investments. While life cover makes sure that your family members are able to pursue their life goals even in your absence, the returns ensure that your investments are working as hard as you are towards your life goals.

    Balance of life cover and attractive returns

    Enjoy potentially attractive returns from your investment, as the product comes with guaranteed maturity benefit (GMB), guaranteed loyalty additions, and bonuses, along with a life cover.

    Guaranteed loyalty additions

    Depending on the premium payment term and policy term, the policy offers guaranteed loyalty additions of up to 315% of the GMB.

    Multiple policy terms

    It offers multiple policy terms of 15, 20, 25 and 30 years.

    Two options for premium payment term

    You can either pay a regular premium over the full policy term or pay the premium for a limited period of 7 or 10 years.

    Multiple rider options

    Option to enhance your cover by opting for one or more riders from the five available under the policy at a nominal extra cost.

    High sum assured Rebate

    This plan offers a premium rebate if the chosen GMB is greater than ` 5 lakh.

    Loan Facility

    Under this plan, the life assured can avail loan up to 90% of the surrendered value.

    You can customize your policy to suit your requirement in the following manner:

    Choose your Policy Term

     

    Choose your Premium Paying Term

     

    Choose your Premium Payment Frequency

     

    Choose your Guaranteed Maturity Benefit (GMB)

    (Your premium will be based on GMB, age, policy term, premium payment term and premium payment frequency. Your Sum Assured is 10 times of Annualised Premium)

    Entry Age

    Minimum age is 0 year

    Risk cover will commence immediately on the date of commencement of risk of the policy and, in the case of a minor life, policy will vest on the life assured on the earlier of attainment of majority (i.e., 18 years age last birthday) or on maturity date.

    Maximum age is 55 years

    Maturity Age

    Minimum Age at Maturity is 18 years

    Maximum Age at Maturity is 70 years

    Policy Term

    15, 20, 25 and 30 years

    Premium Paying Term

    7, 10 & equal to Policy Term

    Premium

    As per the chosen Guaranteed Maturity Benefit

    Sum Assured

    10 times of Annualized Premium

    Guaranteed Maturity Benefit (GMB)

    Minimum ` 5,00,000

    Maximum No Limit

    Premium Payment Frequency

    Yearly, Half yearly, Quarterly and Monthly#

    #The monthly mode will be allowed only under salary deduction scheme and ECS

    Naresh, 30 years old

    He has taken Bajaj Allianz Elite Assure and opted for a policy term and premium paying term of 25 years. He chose a GMB of ` 6,00,000, for which he would be paying a premium of ` 58,424 yearly. Sum Assured = 10 times of Annualised Premium* = ` 5,84,240

    *Annualized Premium is exclusive of extra premium, rider premium and Goods and Service Tax, if any

    • Maturity Benefit
    • Death Benefit

    The Maturity Benefit based on the assumed investment return, are given in below table :

    Policy Term: 25 Years

    • Elite Assure

    At  Assumed investment return**

    Guaranteed Maturity Benefit (GMB)

    Guaranteed Loyalty Additions (GLA)

    Vested Bonus(if any) (VB)

    Total

    @8%

    ` 6,00,000

    ` 14,40,000

    ` 15,56,274

    ` 35,96,274

    @4%

    ` 6,00,000

    ` 14,40,000

    -

    ` 20,40,000

    Note:
    Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws and any extra premium.

    **The returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy.

    Vested Bonus (if any ) at the assumed investment return is not guaranteed and is for illustrative purpose only.

    The Maturity Benefit demonstrated at 4% and 8% does not include Terminal Bonus (if any ). Terminal Bonus( if any) , shall become payable along with Maturity Benefit.

    In case of unfortunate death of Naresh during the 17th policy year, the Death Benefit based on the assumed investment return, are given in below table :

    Policy Term: 25 Years

    • Elite Assure

    At Assumed investment return**

    Guaranteed Maturity Benefit (GMB)

    Guaranteed Loyalty Additions (GLA)

    Vested Bonus (if any)(VB)

    Total

    @8%

    ` 6,00,000

    ` 7,20,000

    ` 8,31,947

    ` 21,51,947

    @4%

    ` 6,00,000

    ` 7,20,000

    -

    ` 13,20,000

    Note:
    Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws and any extra premium.

    **The returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy.

    Vested Bonus (if any) at the assumed investment return is not guaranteed and is for illustrative purpose only.

    The death Benefit demonstrated at 4% and 8% does not include Terminal Bonus (if any). Terminal Bonus (if any), shall become payable along with Death Benefit.

    Maturity Benefit

    The Maturity Benefit is Guaranteed Maturity Benefit (GMB) plus Guaranteed Loyalty Additions (GLA) plus Vested Bonus (if any)(VB) plus Interim Bonus (IB), if any, plus Terminal Bonus (TB), if any. VB as declared, will be attached every policy year starting from your first policy year

    • GLA, as % of GMB, will be attached to the policy at the end of each policy year starting from the end of 10th policy year.

    • GLA, as % of GMB and the total GLA payable at maturity depends on the premium payment term and policy term chosen as shown in the table below:

    Premium Payment Term(years)

    7

    10

    15

    20

    25

    30

    Policy Term (years)

    15

    20

    25

    30

    15

    20

    25

    30

    15

    20

    25

    30

    Guaranteed Loyalty Additions

    3%

    3%

    3%

    3%

    7%

    7%

    7%

    7%

    15%

    15%

    15%

    15%

    Total Guaranteed Loyalty Additions

    18%

    33%

    48%

    63%

    42%

    77%

    112%

    147%

    90%

    165%

    240%

    315%

    Death Benefit

    If all due premiums are paid, then, in case of unfortunate death of the Life Assured during the policy term, the death benefit payable will be Sum Assured on Death1 plus Guaranteed Loyalty Additions plus Vested Bonus (if any) plus Interim Bonus ( if any) plus, Terminal Bonus (if any), subject to Guaranteed Death Benefit of 105% of the total premiums* paid till the date of death.

    1 Sum Assured on Death is the higher of:

    • Guaranteed Maturity Benefit

    • Sum Assured

    Total premium is exclusive of extra premium, rider premium, Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws.

    Additional Rider Benefits

    You can enjoy extra coverage by choosing the optional additional rider benefits at a nominal extra cost. The riders currently available with Bajaj Allianz Elite Assure are:

    Sr. no

    Rider

    UIN

    1

    Bajaj Allianz Accidental Death Benefit Rider

    UIN: 116B034V02

    2

    Bajaj Allianz Accidental Permanent Total/ Partial Disability Benefit Rider

    UIN: 116B036V02

    3

    Bajaj Allianz Critical Illness Benefit Rider

    UIN: 116B035V02

    4

    Bajaj Allianz Family Income Benefit Rider

    UIN: 116B037V02

    5

    Bajaj Allianz Waiver of Premium Benefit Rider

    UIN: 116B031V02

    Please refer to respective rider sales literature or visit Company website or consult your 'Insurance Consultant' for more details and eligibility conditions.

    Documents you’ll need before investing

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    ⭐ What is the Premium Rebate offered under Bajaj Allianz Elite Assure?

    Bajaj Allianz Elite Assure provides Premium Rebate for each complete additional Guaranteed Maturity Benefit (GMB) of ` 50,000, over and above the minimum GMB of ` 5,00,000 as per the below mentioned table:

    Premium Payment Term (in years)

    7 years

    10 years

    15 years

    20 years

    25 years

    30 years

    Rebate (in `)

    90

    76

    67

    72

    77

    81

    Let’s understand this with an example. Mr X is 30 years old and has opted for GMB of ` 6,00,000, policy term of 25 years and Premium Payment Term (PPT) of 25 years. His annual premium before Premium Rebate is ` 58,578. For GMB of ` 6,00,000 the Premium Rebate will be ` 154 (Rs 77 per ` 50,000 of GMB over and above the base GMB of ` 5,00,000). After deduction of Premium Rebate, Mr X will have to pay annual premium of just ` 58,424 instead of ` 58,578.

    ⭐ How does Waiver of Premium benefit rider actually work?

    The Waiver of Premium Benefit Rider triggers only during the Premium Payment Term (PPT) of the policy and on the earlier occurrence of an accidental permanent total disability or critical illness of the policyholder who is also the life assured.

    In case the life assured is a minor, WOP is triggered on the earlier occurrence of an untimely death, accidental permanent total disability or critical illness of the policyholder. For instance, if Policy Term is of 25 years and PPT is for 20 years, then in case of critical illness of the life assured in the 15th policy year, Waiver of Premium will trigger and thereafter all the future premiums will be waived off and the policy will continue without any hindrance.

    ⭐ How is Guaranteed Loyalty Additions calculated?

    In Bajaj Allianz Elite Assure plan, Guaranteed Loyalty Additions (GLA) is calculated as percentage of the Guaranteed Maturity Benefit (GMB). GLA is added to the policy at the end of each policy year starting from the end of the 10th policy year and depends on the premium payment term and policy term chosen by you. So, the longer you stay invested in Elite Assure, the better is GLA going to be.

    Premium Payment Term (years)

    7 10 15 20 25 30

    Policy Term

    15 20 25 30 15 20 25 30 15 20 25 30

    Guaranteed Loyalty Additions

    3% 3% 3% 3% 7% 7% 7% 7% 15% 15% 15% 15%

    Total Guaranteed Loyalty Additions

    18% 33% 48% 63% 42% 77% 112% 147% 90% 165% 240% 315%

    Life Insurance Glossary

    Annualized Premium

    “Annualised Premium” means the total amount of Regular Premiums payable in a Policy Year, after due consideration of applicable premium factors for various Premium Payment Frequency. In this calculation, any extra premium, Rider Premium or applicable taxes are excluded.

    Grace Period

    “Grace Period” means a period of fifteen (15) days for a monthly Premium Payment Frequency and thirty (30) days for other than monthly Premium Payment Frequency, from the due date of the Regular Premium payment.

    Life Assured

    “Claimant” means the Life Assured (if alive) or Policyholder (if different from the Life Assured) or the assignee or the Nominee or the legal heirs of Policyholder/Nominee(s) to whom the Policy Benefit will be payable.

    Maturity Date

    “Maturity Date” means the date specified in the Schedule on which the Maturity Benefit as per policy document shall become payable to the Policyholder

    Nominee

    “Nominee” means the person who has been nominated in writing to the Company by the Policyholder, who is entitled to receive the Death Benefits under the Policy as mentioned in Policy Document

    Paid up Sum Assured on Death

    “Paid-up Sum Assured on Death” is the reduced value of the Sum Assured on Death arrived at by multiplying the Sum Assured on Death with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy.

    Paid up Sum Assured on Maturity

    If the Regular Premiums due for first three (3) Policy Years are paid and subsequent Regular Premiums are not paid, the Policy will, immediately and automatically, be converted to a paid-up Policy on the expiry of the Grace Period as per the conditions stated in the policy document.

    Paid up Sum Assured

    “Paid-up Sum Assured” is the reduced value of the Sum Assured arrived at by multiplying the Sum Assured with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy

    Policyholder

    “Policyholder” means the adult person named in the Schedule who has concluded the Policy with the Company

    Rider Benefit

    “Rider Benefit” means the benefit payable under the Rider on the happening of the contingent event covered under the Rider. For more details, refer to the Policy Document

    Rider Life Assured

    “Rider Life Assured” means the person named as the Rider Life Assured in the Schedule whose life is assured under this Rider

    Rider Premium

    “Rider Premium” means the amount exclusive of applicable taxes, if any, payable by the Policyholder at regular intervals during the Rider Premium Paying Term, in amount (along with and as part of the Regular Premium) and at the Premium Payment Frequency.

    Rider Premium Paying Term

    “Rider Premium Paying Term” means the period specified in the Schedule during which the Rider Premium is payable.

    Rider Term

    "Rider Term” means the period between the Date of Commencement of Rider and the Rider Maturity Date, as mentioned in the Schedule

    Sum Assured

    “Sum Assured” is the amount as specified in the Schedule under the Policy.

    Surrender Benefit

    “Surrender Benefit” means the benefit, if any, payable on the surrender of the Policy. For more details refer to the Policy Document

    Vested Bonus

    “Vested Bonus” is the amount of compound reversionary bonus already attached with the Policy, based on the rates of compound reversionary bonus declared by the Company in the past for this plan at the end of each Financial Year

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    • Amongst ‘Top 75 most valuable Indian Brands 2019’1
    • One of the most Trusted Brand2
    • Claims Settlement Ratio 98.02%~
    • 1 Day Claim Approval7
    • Solvency ratio of 745% **
    • AAA (In) Rating by CARE – Highest Claims Paying Ability$
    • Claim deposits via electronic transfer to make process faster
    • ` 56,085 Total Assets Under Management (AUM)
    • 3.44 Crore number of lives covered#
    • Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

    787% of non-investigative individual claims approved in one working day for FY 2019-20. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices

    ~Individual Claims Settlement Ratio for FY 2019-2020

    **All figures as on 31 March, 2020

    #Individual & Group

    1 Report published by Kantar millward brown

    2Survey conducted by brand equity – Nielsen in March 2019

    $For details refer to press release published by CARE

    "What are your life goals?" is one of the most common questions that comes to one's mind while taking any step further in Life. Most just answer it by laughing it off or saying we will think about it.

    A key reason that they feel this way is that they haven't spent enough time thinking about what they want from their life, and haven't set themselves any goals.

    Goals keep changing as per different life stages and one has to plan meticulously for their future.

    Deciding your Life Goal is all about planning to "Live your life, your way". There could be various Life Goals such as trotting the globe, becoming a food blogger to starting your own business, owning your dream house, or planning your Childs education or marriage.

    L"IF"E is full of IF's... and one needs to plan to secure their loved ones and themselves against the Ifs of Life. When you opt for a life insurance plan, you transfer your family's financial risks in case of any unfortunate event to the life insurer. This allows you and your loved ones to live life fearlessly. Life Insurance protects your family's financial wellbeing from the consequences of living without an income.

    When you purchase a life insurance policy, one of your major life goal gets fulfilled i.e. you purchase a sense of security. A safety net that cushions your family members from the financial impact of your sudden absence and ensures that any outstanding debts that were incurred during your lifetime don't fall upon your loved ones.

    Having life goals is an important aspect in each one's life. One needs to be SMART and plan out well in advance to ensure nothing goes wrong in the future. Life insurance offers a range of products that could come in handy for meeting your financial goals.

    To ensure that it is not too late, get your #LifeGoals insured with us today! It will help you smile in the face of tomorrow's uncertainties and let you live a worry free life!